Yahoo News Recap: Tesla delivered its first Cybertrucks to waiting customers in a milestone moment for Elon Musk
Tesla delivered its first Cybertrucks to waiting customers on Thursday afternoon.
The Cybertruck has a price range between $60,990 and $99,990.
For Tesla CEO Elon Musk, the Cybertruck is a huge test — with massive potential payoff.
The long wait is finally over.
Four years after Tesla CEO Elon Musk first showed off the futuristic Cybertruck, the company handed over some of its first production models to waiting customers and revealed long-awaited details about the truck.
It all went down at Tesla's Texas Gigafactory, near Austin, where some lucky shareholders were in the house to witness the spectacle. It was also livestreamed on X, the social media network formerly known as Twitter, and Tesla's website.
The stakes are high, and it's hard to remember a vehicle launch so closely watched. Here's what happened.
Noticeably, Musk does not announce a price at the event — but one appears online
While Musk didn't announce the Cybertruck's prices, they appeared on Tesla's site during the course of the event.
The cheapest model is $60,990, an option with all-wheel drive is $79,990, and a "Cyberbeast" version is $99,990.
That's a wrap
The event concluded in less than 30 minutes.
Musk has to explain how to open the doors
Some owners appear to struggle to open the Cybertruck's doors.
"You just press this button here," Musk tells one new owner.
The door handle is not obvious on the vehicle. To enter the new owner must press a button near the window column of the truck.
First deliveries begin
Several people come up to center stage to claim their Cybertruck and drive off, including some recognizable faces like Alexis Ohanian.
"As you can see we've got quite a few to deliver here," Musk says.
Cybertruck bests competitors in video
Musk shows a video where the truck out-tows an F-150 diesel truck.
He also shows a video from a race track where the Cybertruck appears to best a 2023 Porsche 911.
The video shows the Cybertruck can go 0 to 60 miles per hour and a quarter mile in under 11 seconds.
"Faster than a 911 while towing a 911," Musk says.
We hear some details on the truck's specs
Musk says the truck can tow over 11,000 pounds and has a 2,500-pound payload capability. He says it can out-pull a a F-150.
The bed of the Cybertruck is six feet long and four feet wide with a 17-inch ground clearance, Musk says.
"Here at Tesla we have the finest in apocalypse technology," he jokes.
Must alludes to the 'incident' — and tests the truck's window again
Tesla design chief Franz von Holzhausen throws what appears to be a rock at a Cybertruck window. The window doesn't break like it did when Musk first showcased the car in 2019.
"It's basically rock-proof," Musk says."If you're ever in an argument with another car you will win."
Elon Musk arrives in Cybertruck
Musk shows up center stage in the bed of a Cybertruck.
"We have a car here that experts said was impossible, that experts said would never be made," Musk says. "Finally the future will look like the future," he adds.
It's very dimly lit inside the event space.
We're off
Tesla starts its livestream promptly at 2 p.m. CT, but we're still listening to hold music. Over 113,000 people are tuning into the livestream on X.
In true Musk fashion, the billionaire has yet to take center stage and the event appears to be running a bit behind. Photos on X appear to show a packed house.
Tesla shares sink as event gets ready to kick off
Shares of Tesla are down a little over 1% in trading Thursday as investors gear up for the first deliveries. That's not too far off from the market overall, which has remained largely unchanged, hovering between red and green.
Tesla's been on a tear this year, however, gaining some 97% compared to the benchmark S&P 500's 20%.
Tesla fans are already lining up to get into the event
Tesla fans are eager for the event to start. Tesla Owners Silicon Valley shared a video on X that appeared to show dozens of people lining up for the event over an hour ahead of kick-off.
Musk also shared a photo that showed several Cybertrucks lined up at the factory.
Cybertruck production line pic.twitter.com/sGYuVFLy3c
— Elon Musk (@elonmusk) November 30, 2023
The first Cybertrucks likely won't have a single-motor option, eliminating the cheapest price point
A recent NHTSA document indicated that the first batch of Cybertrucks up for delivery this year will only offer the more expensive dual-motor and tri-motor options, according to Car and Driver.
It's not clear if or when the single-motor option — which would have likely carried the originally promised $40,000 starting price — will go on sale.
Official prices for the Cybertruck were scrubbed from Tesla's website in 2021. Hours before the truck officially launches, order holders still don't know how much their truck costs or its exact specs.
Musk's recent public comments on the complexity of the Cybertruck indicate that the truck won't be cheap, supported by a recently rescinded $50,000 resale fine that is typically slapped on expensive, limited-build models.
Elon Musk appears on edge ahead of launch party
The night before the delivery event, Musk sat down for an interview at the New York Times' Dealbook Summit.
He had little to say about the Cybertruck, but struck a confrontational tone early on in the interview and at one point even called for advertisers on his social media site X to "go fuck yourself." Musk made the comments in response to an advertiser exodus from X, formerly known as Twitter, that followed an incident earlier this month where Musk appeared to boost an anti-semitic tweet.
Cybertruck could help Tesla become a $1 trillion company, analyst says
Wedbush tech analyst Dan Ives speculated on Tuesday that the Cybertruck's launch could be the catalyst that propels Tesla near a $1 trillion valuation.
His bullish price target of $310 — about 29% higher than current trading levels — would reflect a roughly $996 billion market capitalization.
"Launching Cybertruck is important for the broader Tesla growth story over the coming years and also will prove to the doubters that Musk can successfully expand the Tesla halo effect as more consumers head down the EV path," Ives said.
Tesla pauses Cybertruck orders
Tesla's webpage for the Cybertruck switched from a pre-order form to simply a countdown clock on Wednesday morning. If you wanted to get a last-minute reservation in before the launch party, you may. be out of luck!
'Another historical moment for Tesla'
The Cybertruck is a big deal, especially for investors who are wary of lower profits and shrinking market share.
"This is another historical moment for Tesla and Musk with the Cybertruck unveil as the Street is excited to see the formal vehicle launch featuring the dual-motor trim and its top-level tri-motor AWD performance model along with updates regarding production and scaling," Dan Ives, an analyst at Wedbush, told clients Tuesday.
Musk has said that Tesla would sell about 200,000 to 250,000 trucks annually by 2025.
Today, they're expected to deliver the first 10.
Pricing and full specs still aren't clear on delivery day
Despite taking in thousands of refundable deposits, according to one crowdsourced tally, Tesla still hasn't told waiting customers exactly what they're getting in terms of range, batteries, and motors — or how much it'll cost.
There are signs, however, that the truck will likely go for well above Musk's originally promised $39,900.
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